There are "degrees" added to Taunt in Gen V, if that's the correct word. It isn't like Protect, that being a very useful move that you just put on your team as a staple and use as a sort of safety-switch. Taunt has dimensions and twists; it can be stopped by Mental Herb, or Protected against, or Fake Out'd, or be predicted and the foe thus uses an attack move instead, or even Taunted before you get off the Taunt. While it IS a very useful move, and I don't want to be caught dead saying it isn't, if you're just starting out, I would build a team that is just generally good with good synergy, and not torture yourself with finding a way to counter every little thing. Insert Taunt into a moveslot when you've found a team that is really, truly a brainchild, but not into a starting team: you'll find you won't know when to use it effectively.
(On walls, above)